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By Staff Reporters
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Health care sharing is not insurance, but the plans count as insurance under the Affordable Care Act (ACA). That means more affordable healthcare benefits while avoiding the tax penalty for going uninsured. Other pros of health care sharing over insurance include: Lower cost. Monthly costs of health sharing are usually much lower than insurance premiums, although the rules are different for what’s covered. Also, the annual “unshared amount” is much, much lower than deductibles on lower-premium or catastrophic insurance plans. Your choice of provider. There are no network requirements, and you provide your health sharing card as coverage. If a doctor won’t accept your plan and you have to pay out-of-pocket, health sharing plans reimburse your expense.s
CITE: https://www.r2library.com/Resource
Now, the caveats: Health care sharing plans aren’t required to cover pre-existing conditions, such as cancer, diabetes, or lifestyle-related conditions like smoking. Those who have them may be declined membership or won’t have the conditions fully covered for a year or more. Health care sharing also doesn’t typically cover the essential health benefits like wellness exams or mental health counseling.
Yet, at least 1.7 million Americans are involved in a health sharing agreements despite a lack of protections (KFF Health News).
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Filed under: "Ask-an-Advisor", Ethics, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Industry Indignation Index, Insurance Matters, LifeStyle, Risk Management | Tagged: Health Insurance, health sharing, health sharing agreements, health sharing arrangements, Healthcare Finance, KFF, KFF Health News |
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